BUSINESS OPPORTUNITIES FOR NORWEGIAN COMPANIES IN MALAYSIA

The Oil and Gas Sector

Like most oil and gas producing countries, Malaysia’s investments in the upstream sector have been softened by the low oil prices. Malaysia’s effort in boosting oil production through enhanced oil recovery, deepwater developments and marginal field development have suffered setbacks due to the current low oil prices. Several projects have been delayed due to the high project costs and projects that are technologically demanding. Despite the above, several projects that will come on stream in the coming years include:

Petronas’ K5 sour gas project. Several foreign contractors have submitted the engineering, procurement and contruction of MOPU that it aims to use at K5

Mubadala’s Pegaga gas field project, which is in Block SK320. The project will be developed with a CPP that will serve as a hub for future tie-backs with potential fields like M5, Sirih and Sintok. Start-up expected in 2022